ITC Holdings (ITC) 11/6/09 PriceWatch Alert Up To 15.93% Return

Posted: Friday, November 06, 2009 8:20 AM EDT

ITC Holdings (NYSE: ITC) closed yesterday at $45.41. So far the stock has hit a 52-week low of $32.26 and 52-week high of $48.69. ITC stock has been showing support around 44.16 and resistance in the 46.14 range. Technical indicators for the stock are Bearish and S&P gives ITC a positive 4 STAR (out of 5) buy rating. ITC appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a Feb '10 45 covered call (ITC BI) for a net debit in the $43.01 area. That is also the break even stock price for this trade. This covered call has a 106 day duration, provides 5.29% downside protection and a 4.63% assigned return rate for a 15.93% annualized return rate (comparison purposes only). ITC has a current annual dividend yield of 2.86%. [FBB-Seven Summits Research]

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